In January 2000 Ecuador Officially Replaced Its National Currency, the Ecuadorian

question 24

Multiple Choice

In January 2000 Ecuador officially replaced its national currency, the Ecuadorian sucre, with the U.S. dollar. This practice is known as:

• A)bi-currencyism.
• B)sucrerization.
• C)a Yankee bailout.
• D)dollarization.

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Definitions:

State Law

The body of law enacted by each state in the United States, governing within its own territory outside of federal regulations.

Bankrupt Party

A term referring to an individual or entity that has been legally declared unable to pay their debts.

State's Exemptions

Provisions in law that allow individuals to protect certain amounts or types of property from seizure or attachment by creditors.

Straight Bankruptcy

A term often used to refer to Chapter 7 bankruptcy, which involves the liquidation of a debtor's assets to repay creditors.